Details Emerge About QuickBooks Online Bill Payment
As we first reported in August 2023, Intuit is making substantial changes to QuickBooks Online bill payment options. On October 31, the company issued more details about discontinuing the integration between Bill Pay powered by Melio. In this article, we detail the actions you must take to preserve the opportunity to pay bills electronically through QuickBooks Online.
What's Changing? The Big Picture
In summary, Intuit is discontinuing the integration between Bill Pay powered by Melio and both QuickBooks Online and QuickBooks Online Accountant. In place of the Melio solution, Intuit will launch its own bill payment solution.
For most customers, these changes begin taking place on December 4, 2023. Intuit will email these Phase 1 customers in November 2023 to explain the forthcoming changes in detail and transition options. Phase 1 customers can begin registering and using the new service on December 4. Phase 2 customers will receive email messages from Intuit in early 2024 detailing their options. Until then, these customers can continue to use their existing Bill Pay powered by Melio service.
Why The Changes?
According to Intuit, the forthcoming Intuit-based solution offers several features unavailable in the Melio solution. Included in these are the following.
- The ability to import invoices into a bill, thereby avoiding manual data entry.
- Enhancing internal controls by assigning customized roles and permissions to individual users.
- An option to create customized bill payment approvals, also enhancing internal controls.
- Automating tasks by connecting with customers and vendors through the QuickBooks Business Network.
QuickBooks Bill Pay Plans And Pricing
According to Intuit, QuickBooks Bill Pay will be available under three plans – Basic, Premium, and Elite. The Basic plan is available at no charge and provides up to five ACH payments monthly at no charge. Additionally, the Basic plan includes automated bill creation capabilities and the ability to match transactions automatically.
For those companies needing more volume, the Premium plan includes up to 40 free ACH transactions per month. Further, in addition to automated bill creation and transaction matching, it supports filing an unlimited number of Forms 1099 at no charge. The monthly fee for the Premium plan is $15, with a 50% discount for the first three months.
Larger organizations may be served best by the Elite plan, which provides an unlimited number of ACH transactions. This plan also adds customized roles and permissions and bill approval workflows to the features otherwise found in the Premium plan. Intuit prices the Elite plan at $90 monthly, with a 50% discount for the first three months.
For the Basic and Premium plans, Intuit charges $0.50 for ACH transactions exceeding the monthly allowance. In addition, Intuit charges $1.50 to pay bills with checks initiated through QuickBooks Bill Pay.
Summary
If you or your clients use QuickBooks Online and the existing Bill Pay powered by Melio solution to pay bills, significant changes are ahead. Existing Melio users must register for and become familiar with QuickBooks Bill Pay to avoid any interruptions in processing accounts payable. So, if you or your clients are in this situation, be sure to proactively manage the conversion so you can continue to pay your vendors on time.
Intuit has published a detailed guide on how to use the QuickBooks Bill Pay service, and you may view the guide at Learn about QuickBooks Bill Pay (intuit.com).